Fed's Beige Book Suggests Moderate Growth

WASHINGTON—The U.S. economy grew at a moderate pace through early April, buoyed by residential construction and auto manufacturing, the Federal Reserve reported Wednesday.

Most of the Fed's 12 regional districts have seen either "modest" or "moderate" growth since late February, according to the Fed's "beige book" report, which is based on anecdotes from businesses and economists across the country. The...